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LEGAL TYPES: The three primary types of legal firm organizations are: (1) proprietorship, (2) partnership, and (3) corporation. One primary difference between these three legal types are number of owners -- proprietorship has one, partnership has two or more (but usually a small number), and corporation can have anywhere from one or to millions. A second difference is the liability of the owners -- proprietorship and partnership owners have unlimited liability and corporation owners have limited liability. Three newer firm types include (1) limited partnership, (2) S corporation, and (3) limited liability company. Each of these three are hybrids, with characteristics of proprietorship, partnership, corporation.
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                           There are 178 entries in the GLOSS*arama starting with the letter P.
Entries 1 through 35: - p-e ratio
- packaging
- paper currency
- paper economy
- par value
- paradox of thrift
- Pareto efficiency
- Pareto improvement
- part-time workers
- partnership
- patent
- paternalism
- payment flow
- payroll tax
- peak
- per unit tax
- perception
- perfect competition
- perfect competition and demand
- perfect competition and efficiency
- perfect competition and short-run supply curve
- perfect competition characteristics
- perfect competition, factor market analysis
- perfect competition, long-run adjustment
- perfect competition, long-run equilibrium conditions
- perfect competition, long-run production analysis
- perfect competition, loss minimization
- perfect competition, marginal analysis
- perfect competition, profit analysis
- perfect competition, profit maximization
- perfect competition, realism
- perfect competition, revenue division
- perfect competition, short-run production analysis
- perfect competition, shutdown
- perfect competition, total analysis
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MARGINAL FACTOR COST, MONOPSONY The change in total factor cost resulting from a change in the quantity of factor input employed by a monopsony. Marginal factor cost, abbreviated MFC, indicates how total factor cost changes with the employment of one more input. It is found by dividing the change in total factor cost by the change in the quantity of input used. Marginal factor cost is compared with marginal revenue product to identify the profit-maximizing quantity of input to hire.
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Paying TAXESThe time has come to take a firm stand! The Shady Valley Gazette Tribune-Journal has published an inflammatory editorial calling for a "pedestrian" tax on anyone who ambles around the economy. This tax, as every pedestrian would surely agree, is misguided and short-sighted. It's also unfair and probably unconstitutional. How DARE the editors of the Shady Valley Gazette Tribune-Journal call for a "pedestrian" tax. Sure they argue that ambling pedestrians should help pay for the sidewalks, traffic signals, and other assorted public goods. But, it's certainly not in MY best interest as a pedestrian to pay this misguided, short-sighted, unfair, and probably unconstitutional tax.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet hoping to buy either storage boxes for your income tax returns or an AC adapter for your CD player. Be on the lookout for small children selling products door-to-door.
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This isn't me! What am I?
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"Only great minds can afford a simple style." -- Stendhal, writer
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JPE
Journal of Political Economy
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